New Issue: GS Finance sells $1.96 million index-linked notes on Dow, S&P

Chicago, May 16 – GS Finance Corp. priced $1.96 million of 0% index-linked notes due Oct. 16, 2023 tied to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus the 1.06 times the gain of the least performer.

If the worst performer finishes above 70% of its initial level, the payout will be par.

If any index falls by more than 30%, investors will be fully exposed to the loss of the worst performer.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, S&P 500 index
Amount:	$1,957,000
Maturity:	Oct. 16, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the notes are not called and each index finishes at or above its initial level, par plus the 1.06 times the gain of the worst performer; if worst performer finishes above barrier level, par; if any index falls by more than barrier, full exposure to loss of worst performer
Initial index levels:	34,746.25for Dow, 4,391.34 for S&P
Barrier levels:	70% of initial levels
Pricing date:	Oct. 8, 2021
Settlement date:	Oct. 18, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	0%
Cusip:	40057JS31

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